Alice's preferences for good X and good Y are described by the following utility function:U(X,Y)=X+2Ywhere X and Y are the respective amounts of the good X and good Y Alice consumes.

1. Briey explain what is meant by the statement that \"preferences are monotonic\". Use the bundles A = (xx) e (2,2), B = (X,Y) = (3,1), and c'= on) = (4,4) to illustrate that for these bundles Alice's preferences are monotonic while clearly explaining your reasoning. 2. Draw a graph with 2 examples of Alice's indifference curves. Briey discuss what the shape of the indifference curves show about how Alice likes to consume the two goods, X and Y. i 3. Suppose that the price of good X is PX = 2 and the price of good Y is Py = 2. Suppose that Alice income is I = 10